Mentha oil futures rise 1.58% on pick up in demand

Mentha oil prices rose 1.58 per cent to Rs 1,529 per kg in futures market today as speculators raised bets amid pick-up in demand from consuming industries in the domestic spot market.
Besides, tight stock positions on restricted arrivals from producing regions and lower output estimates supported mentha oil prices.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in the current month rose Rs 23.80, or 1.58 per cent, to Rs 1,529 per kg, clocking a business volume of 79 lots.
The oil for February delivery traded Rs 23.50, or 1.56 per cent, higher at Rs 1,528 per kg, with a trading volume of 299 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices.